Dudry: Hudson shares drop on first trading day
(CercleFinance.com) - Swiss retailer Dufry has picked the wrong day to float its US unit Hudson: the shares, which began trading on the New York Stock Exchange yesterday, fell 3.
6% in the midst of the crumbling financial markets.
While Hudson had closed its initial public offering (IPO) last Friday at a public offering price of 19 dollars, the shares ended trading at under 17.4 dollars last night.
All of the common shares were sold by Dufry, and Hudson Group did not receive any proceeds from the offering.
Dufry has granted the underwriters a 30-day option to purchase additional common shares at the initial offering price.
Listed in Zurich, shares in Dufry were down 3.9% at 135.6 Swiss francs this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
6% in the midst of the crumbling financial markets.
While Hudson had closed its initial public offering (IPO) last Friday at a public offering price of 19 dollars, the shares ended trading at under 17.4 dollars last night.
All of the common shares were sold by Dufry, and Hudson Group did not receive any proceeds from the offering.
Dufry has granted the underwriters a 30-day option to purchase additional common shares at the initial offering price.
Listed in Zurich, shares in Dufry were down 3.9% at 135.6 Swiss francs this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.